Please answer the following question no need for explanation

QUESTION 1 28 P 24 S 20 16 12 D2 8 4 D1 0 4 8 12 16 20 Q 24 Assuming Demand changes from D1 to D2, the new equilibrium will be at P=$18 and Q=16. True O FalseQUESTION 2 Assuming the demand changed from D1 to D2, and we examine the adjustment process from an horizontal perspective, which of the following statements about the sequence of changes in the this adjustment process is TRUE? (A step in the sequence could have more than one event.) The initial equilibrium is at P=$15, and Q=116 C] First, the price of the good increases. Third, as the price is increasing, quantity supplied increases. Second the quantity demand ed increases to 16, creating a market shortage. C] The initial equilibrium is at P=$15 and 0:12 Fourth, a new equilibrium is established at P=18 and 0:16. First, the quantity demanded increases from 12 to 20, creating a market surplus. First, the quantity demanded increases from 12 to 20, creating a market shortage. Second, as they face a shortage of the good buyers will bid up its price. Third, as the price is increasing, quantity demanded will decrease. QUESTION 3 Given Demand changed2 from D1 to D2. which of the following statements are TRUE? C] This represents a decrease in demand. C] This represents an increase in demand. C] A possible reason for this change is lower availability of the good. C] A possible reason for this change is the product has fallen out of fashion. C] A possible reason for this change is a decrease in consumer income, and this is an inferior good. C] A possible reason for this change is an increase in supply. C] A possible reason for this change is shortage of the product. C] A possible reason for this change is decrease in population in the market. C] A possible reason for this change is increasing number of buyers. C] A possible reason for this change is an increase in price of the good. QUESTION 4 :__..__.; I. .5. a .._:i.: _:::.::.:..":::::..;_\"\"' ilil _ . - . I! 82 . | \"In! _ a II In 4 Iii!\" Illili o .4I.I p 0 4 B 16 20 24 lGiven Supply changed from S1 to 52, whaich of the following statements are TRUE? C] This is a decrease in supply. C] This represents an increase in supply. C] A possible reason for this change is an increase in demand. C] A possible reason for this change is a decrease in demand. C] A possible reason for this change is a decrease in resource prices. C] A possible reason for this change is an increase in resource prices. C] A possible reason for this change is better production technology. C] A possible reason for this change is change in consumer tastes. C] A possible reason for this change is increasing number of sellers. C] A possible reason for this change is decreasing number of sellers. C] A possible reason for this change is a lower price of a complement in production. QUESTION 5 28 P 24 20 16 12 12 16 20 24 Q Given these supply and demand relationships drawn, if the actual price is $14, which of the following statements are TRUE? O At $14, the demand is 16 At $14, the quantity demanded is 16 The equilibrium quantity s 12 At $14, the quantity supplied is 16 The equilibrium quantity is 16 At $14, the supply is 16 The equilibrium price is $14 At $14, the quantity supplied is 9 At $14, the supply is 9 O The equilibrium price is $17 At the equilibrium price supply and demand would be equal At a price of $17, the quantity demanded and quantity supplied would be equal At $14 there is a market shortage of 7 units At $14 there is a market shortage of 4 units O At $14 there is a market surplus of 7 units. O Supply and Demand are equal at P=17.QUESTION 6 28 P 24 S 20 16 12 D2 8 A D1 0 0 4 8 12 16 20 Q 24 If the change from D1 to D2 was caused by an increase in consumer income, this is an inferior good. O True O FalseQUESTION 7 If this change from D1 to D2 was caused by a decrease in the price of a good related in consumption, the two products are substitutes. 0 True 0 False QUESTION 8 Assuming an increase in Demant and decrease in Supply, which of the following statements is TRUE? O The price of the good will decrease. O The quantity of the good will definitely decrease. O The price of this good will definitely increase. O There will be a permanent shortage of this good. O The new equilibrium quantity may increase, decrease, or stay the same. O A surplus of this good will result from these changes in Supply and Demand. What new equilibrium quantity will result depends on the relative magnitude of the changes and the shapes of the Demand and Supply curves. O We cannot determine what will happen to price.QUESTION 9 are TRUE? The horizontally oriented definition of DEMAND states that "demand is the quantities of a good that buyers are willing and able to buy at various prices in a given time interval." Which of the following statements If I really like a good, it does not matter how much I am able to afford to spend on it. The demand for a good is a specific amount. O Demand is a behavioral relationship expressing what quantities buyers would want and be able to buy at various prices. If I can't afford to buy a product at today's available prices, I do not have a demand. O The demand is all the possible price quantity combinations Demand depends on the availability of supply. Demand is a relationship between price as a variable and quantity demanded as a variable. O Demand is a flow and requires a time interval be be fully understood.QUESTION 10 What impact on the market for beef will result from a decreases in the price of corn? C] There will be no impact, as corn and beef are not related. C] The price of beef will increase C] The supply of beef will increase. C] The price of beef will decrease C] Thre will be a surplus of beef as long as corn prices don't recover. C] The demand for beef will increase as people substitute heed for corn. C] The quantity of beefwill increase C] The demand for beef may increase, if beef and corn are complements in consumption for some consumers